S&P lifts ViaSat to positive

Standard & Poor’s said it affirmed the B+ corporate credit rating on ViaSat Inc. and revised the outlook to positive from stable.

The outlook revision reflects the company’s good revenue and EBITDA growth through the first nine months of fiscal 2016 relative to base-case expectations, S&P said.

During this period, revenue improved 5% and EBITDA improved 16% year-over-year, driven by strong performance in the company’s satellite and government services segments, the agency said.

The positive outlook reflects the possibility of an upgrade over the next 12 months if good operating performance continues and the company is able to show progress in executing its long-term strategy while maintaining adjusted leverage at less than 4.5x, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.